Border to Coast Pensions Partnership (“Border to Coast”) has committed £80m to support healthcare innovation and drive the energy transition in the UK, building on more than £1bn invested in the country’s private markets on behalf of Partner Funds.
Forming part of the pool’s innovative £0.5bn UK Opportunities strategy, two UK-focused funds have been earmarked for £40m of commitments respectively: UBS UK Life Sciences Property strategy and Quinbrook Renewables Impact Fund II.
Border to Coast’s commitment to the UBS UK Life Sciences Property strategy will help build valuable real estate for the life sciences industry, supporting research, development and manufacturing in the UK, enabling medical innovation. Situated in the ‘Golden Triangle’ between Cambridge, Oxford and London, the developments will help meet high demand for specialist, energy-efficient real estate to support this growing industry.
The commitment to the Quinbrook Renewables Impact Fund II will support the construction of renewable energy generation projects such as wind and solar farms, the decarbonisation of infrastructure, and increased grid stability, helping further the UK energy transition.
The latest commitments build on an existing £1bn invested in UK private markets, £1.3bn invested in UK real estate, and a further £10bn invested across UK public markets by the partnership.
Chief Investment Officer Joe McDonnell said: “These investments are a prime example of what our UK Opportunities strategy is all about – investing in UK productive assets, such as new infrastructure projects, that improve our country’s capacity for economic growth, while also delivering good risk-adjusted returns to our Partner Funds over the long term. That’s extra value that members can enjoy in addition to returns.”
Border to Coast is owned by 11 local government pension schemes – “Partner Funds” – including Durham, Bedfordshire, Cumbria, East Riding, Lincolnshire, North Yorkshire, South Yorkshire, Surrey, Teesside, Tyne and Wear and Warwickshire.
Border to Coast continues to demonstrate how, through scale and innovative investment management, the LGPS and pools of pension capital can direct long-term, productive finance into the UK.
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